1 hr. ago
US stock futures traded mixed on Monday morning after Iran attacked Israel, putting pressure on a fragile ceasefire in the Middle East, and investors continued to reprice rate-hike bets and ******* s the artificial intelligence trade.
Futures tied to the Dow Jones Industrial Average (YM=F) moved down 0.2%. Meanwhile, S&P 500 futures (ES=F) rose roughly 0.3% as contracts on the tech-exposed Nasdaq 100 (NQ=F) jumped 0.6%.
Markets start the week on unsteady footing after the Nasdaq Composite (^IXIC) dropped 4% on Friday and the S&P 500 (^GSPC) snapped its nine-week winning streak. A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report that strengthened the case for the Federal Reserve to raise interest rates later this year.
The Nasdaq eyed a rebound on Monday as Nvidia (NVDA) CEO Jensen Huang and others suggested the tech rout could be an opportunity to buy into the AI trade. Chip stocks gained in premarket, with Micron (MU) up 4% and Nvidia adding nearly 2%.
Oil prices flared after Iran fired missiles at Israel for the first time since April, and Israel struck back despite President Trump's calls for both sides to stop fighting. Brent futures (BZ=F) climbed over 4% to almost $97 a barrel, while West Texas Intermediate futures (CL=F) neared $95 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.
Futures tied to the Dow Jones Industrial Average (YM=F) moved down 0.2%. Meanwhile, S&P 500 futures (ES=F) rose roughly 0.3% as contracts on the tech-exposed Nasdaq 100 (NQ=F) jumped 0.6%.
Markets start the week on unsteady footing after the Nasdaq Composite (^IXIC) dropped 4% on Friday and the S&P 500 (^GSPC) snapped its nine-week winning streak. A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report that strengthened the case for the Federal Reserve to raise interest rates later this year.
The Nasdaq eyed a rebound on Monday as Nvidia (NVDA) CEO Jensen Huang and others suggested the tech rout could be an opportunity to buy into the AI trade. Chip stocks gained in premarket, with Micron (MU) up 4% and Nvidia adding nearly 2%.
Oil prices flared after Iran fired missiles at Israel for the first time since April, and Israel struck back despite President Trump's calls for both sides to stop fighting. Brent futures (BZ=F) climbed over 4% to almost $97 a barrel, while West Texas Intermediate futures (CL=F) neared $95 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.
